How to use MetaTrader 4 and why traders prefer it?

06Feb

MetaTrader 4 is the world’s most famous trading platform and is used by millions of Forex traders worldwide. This is the preferred platform for trading currency pairs, CFDs on stocks, indices, oil, precious metals and many other instruments. MT4 is considered very versatile and user friendly and even though there has been a new version – MetaTrader 5, a great majority of the traders still prefer MetaTrader 4 as their main Forex trading terminal.

How to Download MetaTrader 4:

MT4 is free and can be downloaded from our website. Installing MT4 is very easy and takes only a few minutes. Once the installation has finished you will need to create a demo or live account with LiteForex. You will receive your MT4 login details in your email and you will be able to login and connect to the trading server. Once you’re logged in, you will have a full access to MT4 and can begin placing orders.

How to use MetaTrader 4

MT4 has a great number of features, which allow you to analyze the markets and take advantage of market opportunities by using indicators and Expert Advisors. In addition, you can use different order types when placing orders; they include: market order (instant execution), stop loss, take profit, and pending orders (buy limit, buy stop, sell limit and sell stop). MT4 is suitable for both beginner and professional traders. Let’s look at some specific features of MT4 that make it one of the best platforms for trading Forex and CFDs.

Technical Indicators and Expert Advisors

MT4 supports a great number of technical indicators and tools. You can analyze different technical indicators in MT4 and use them during your trading. Technical indicators can help you make decisions about how and when to open or close positions. Expert Advisors on the other hand, allow you to automate your entire analytical and trading activities instead of doing this manually. Traders who wish to automate their trading can apply Expert Advisors in MT4. Traders can either choose to use already created Expert Advisors or Technical Indicators or to create their own using MetaEditor.

Advanced Charts

MT4 has an advanced charting package which can be easily customized. You can choose from nine chart time-frames, which include: 1 Minute (M1), 5 Minutes (M5), 15 Minutes (M15), 30 Minutes (M30), 1 Hour (H1), 4 Hours (H4), Daily (D1), Weekly (W1) and Monthly (MN). You also have a good choice of chart templates such as Dinapoli, Bollinger bands and Williams. Additionally you can switch to your preferred chart style – bars, candlesticks or lines and even customize the charts by changing their color schemes.

MT4 MultiTerminal

The MultiTerminal is available for those who want to manage and trade on several MT4 accounts at the same time. This is a convenient solution for Money Managers or for traders who wish to avoid complications using different strategies during their trading.

Trade on your mobile

Forex traders are increasingly using their mobile devices in their everyday trading. That’s why LiteForex is offering the MT4 platform for Android, iPhone, iPad, PDA, and BlackBerry devices. Whether you want to follow the market, monitor your trades, or place new ones you can now do it from your mobile. The mobile platforms are very similar to the desktop version of MetaTrader 4 and give you the freedom to trade wherever you go.

Trade Forex and CFDs from one platform

MetaTrader 4 is very convenient because it allows you to trade a variety of assets from one account. You can trade currency pairs, CFDs on shares, indices, oil, precious metals, and many other instruments. You can trade all these instruments on leverage at great conditions with LiteForex.

Cannot read us every day? Get the most popular posts to your email.

Full name

Email

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

Risk Warning: Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. Click here for our full Risk Disclosure.